|
BIRetail, a UK-based software firm, has launched a business intelligence software for a small and medium size retail firms.
|
|
To counter the high price tag that existing retail software come with, BIRetail has deployed the 'Software as a Service' (SAAS) model where the software is available on a subscription model.
|
|
"It would be made available for Rs 5,000 a retail outlet and would decrease as the number of subscriptions by a client increases," said Mr Niraj Jaipuria, Director, Regional Sales, Asia-Pacific, BIRetail.
|
|
The new software (BIRetail) is aimed at helping retailers hold stock efficiently, improve customer servicing and manage their supply chain better
|
|
The implementation cycle for BIRetail would be four weeks against 6-12 months that other retail business intelligence software providers take, said Mr Jaipuria.
|
|
The software could be used even when retailers scale up. "This can be used by single store owners and retailers having up to 100 stores," said Mr Jaipuria.
|
|
BIRetail was started with an initial funding of Rs 5crore ($1 million) and is targeting a turnover of Rs 250 crore ($50 million) in five years. BIRetail is being used by retailers in th UK, West Asia and India.
|
|
The Indian retail sector is valued at around Rs 2.7 lakh crore ($450billion). The market size of Indian retail business intelligence software is pegged at about Rs 235 crore ($47 million).
|
